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20121202
20121210
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-offer in fiscal cliff negotiations with president obama takes away a white house argument that the republicans have no plan and puts medicare on the table for discussion. the republican counter-offer would raise $800 billion through tax reform and cut $600 billion from federal health programs, including raising medicare eligibility, another $600 billion cut from mandatory and discretionary spending, and factor inflation less in calculating social security benefits. "what we're putting forth is a credible plan that deserves serious consideration by the white house." in a three-page letter to the president calling democratic gains in the senate and mr. obama's victory a "status quo election," the republican proposal would raise half the amount as the president's plan and save $350 billion from medicare and medicaid. however, at the chicago fed, a gathering of 39 individuals from banking and manufacturing industries - including automakers and other sectors - say the economy is strong enough - barely - to withstand either party's direction. "the vast majority think the fiscal cliff's impact will n
journal, the staffs for president obama and house speaker boehner are talking again. it follows a nearly week-long silence. wednesday, the presdient and congressman boenher spoke by phone. on thursday, the president said he was optimistic a deal would get done as he sat down with a middle-class family in virginia to promote his tax plan new jersey governor chris christie is making a pitch to washington for more funds to cover the cost of hurricane sandy. christie is seeking $83 billion in extra disaster aid from the government. he's making the plea on behalf of his home state of new jersey, as well as for new york and connecticut. christie met with president obama at the white house first, then with house speaker john boehner at the capital. at a senate hearing thursday, senator charles schumer of new york presented his case for rebuilding the storm zone. "new york has no choice, we have to adapt. new york and new jersey are a waterfront region in the path of violent new weather realities." president obama meanwhile is seeking $50 billion from congress for emergency aid for 11 states wit
week. avoiding the fiscal cliff is coming down to taxes. president obama told bloomberg tv yesterday he is willing to be flexible, but there will be no deal unless republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this building. we can't let these negotiations be dictated by the tea party." "we've wasted an enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. traders are keying off market moves for clues about the economy. scott bauer of trading advantage joins us now. scott, what is the gold market telling traders about the prosepects of the economy going over the fiscal cliff
player's case before trial. president obama is hoping to gain yardage on budget talks, minus drama. yesterday, the president met with business leaders at a roundtable event, and had this to say to the ceo's: "i recognize that all of you have an investment in your own company,ut notnly your own bottom lines, but in the well-being of america." at the same time, gop majority leaders including eric cantor met with small business owners. cantor blamed the president for being obsessed wtih raising taxes. the president says he won't budge on higher taxes for the top 2%. the stock market rallied yesterday after bloomberg news reported 40 republicans have joined a bipartisan call to break the budget impasse. california shipping ports in l.a. and long beach are back in action. an eight-day strike started by clerical workers over the outsourcing of jobs has ended. an additional 10,000 port workers refused to cross the picket lines, which crippled cargo deliveries. the clerical union is expected to vote on whether to ratify the agreement in about 2 weeks. while shippers and workers have worke
Search Results 0 to 3 of about 4